Where not to buy | 7 | Business 2.0

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Where not to buy
(at least for the next year or so)

These 10 overvalued cities have run their course and home prices are expected to drop in 2007, reports Business 2.0 Magazine in its November 2006 issue.

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At a glance
Population:	274,413
Median family income (per year):	$49,985
Median home price:	$282,000
Home price gain (2004-2005):	42.80%
One-year Market forecast:	-6.6%

Bakersfield, CA

Oil wells, cotton fields and pecan and almond growers, as well as country-western music, make this valley city seem more like an outpost of southeastern Texas than the left coast.

It shares with that area many of the factors that work against high real estate prices: low paying jobs, hot summers, uninspiring scenery and plenty of room to expand.

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